What is Distributed Banking and What does Distributed Credit Chain do? Hear from Stewie Zhu, DCC’s Founder & CEO, and we invite you to join our journey.

What is Distributed Credit Chain?

Distributed Credit Chain, or DCC, is the world’s first “Distributed Banking” public chain. What is “Distributed Banking” then? It is built on the fundamentals of the Blockchain technology — decentralized, open, autonomous, irreversible and private — to transform and evolve the banking industry in various areas.

A distributed bank is not a traditional bank, but rather an ecosystem of distributed financial services. Unlike the traditional financial industry, the distributed banking ecosystem creates a true peer-to-peer and all-communications model of cooperation across all regions, sectors, subjects and accounts. It will enable business participants in different countries around the world to provide financial services in a much more convenient and efficient way.

How does Distributed Credit Chain work?

We will begin by tabbing into the credit business on DCC. The history of the credit industry goes back a long way, and credit played an essential role in the exponential expansion of the human civilization, which in turn, has put credit efficiency, privacy and cost reduction under the spotlight.

Is there a way to eliminate monopoly and profiteering? Is there a way to secure and protect personal credit data? Is there a way to create a Data Marketplace? Yes, yes, and yes. The idea of decentralization and the open consensus mechanisms of Blockchain technology will enable DCC to offer a solution.

Can you give us an example?

Let’s say an ordinary African worker is in urgent need of a home renovation. He has a good local credit history, but the annualized interest rates of borrowing from local banks are up to 8%. Where can he find access to lower interest rates? Through DCC’s ecosystem and decentralized credit data sharing, a Canadian bank can see his loan request and assess his borrowing risk, and ultimately make a decision to grant him a loan at a lower interest rate of only 4%. Such a scenario is inconceivable in the traditional banking network, but will occur frequently in DCC through Blockchain’s distributed architecture.

This is Stewie Zhu, CEO of DCC, and I invite you to join the transformation of the banking industry with us!